Rajat Gupta, the former Goldman Sachs director accused of giving inside information to fund manager Raj Rajaratnam, faces new allegations he passed tips about earnings of Goldman Sachs in 2007 and Procter & Gamble Co. in 2009, accprding to Bloomberg.
In a superseding indictment filed yesterday in federal court in Manhattan, the U.S. broadened its description of the insider-trading scheme, saying it began in March 2007 not in 2008 as alleged in October. Prosecutors also said Gupta tipped Galleon Group LLC co-founder Rajaratnam about Goldman Sachs’s first quarter 2007 earnings and, while at Galleon’s offices, listened to a Goldman Sachs board meeting where earnings were disclosed.
“During that call, the audit committee discussed the company’s quarterly earnings announcement that would be made the following day,” assistant U.S. attorneys Reed Brodsky and Richard Tarlowe said in the indictment. “Gupta participated in the audit committee call from the premises of Galleon.”
Read all about it at http://www.bloomberg.com/news/2012-01-31/u-s-prosecutors-file-new-indictment-against-rajat-gupta.html
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